Color’s official line? Color itself hasn’t responded, but a spokesperson for Color investor Sequoia capital told us “Color is not shutting down.”

It’s worth noting, however, that while the Color app is on its last legs, Color as a company still has plenty of cash in the bank, which means that there’s little preventing it from rebranding and launching something else down the line.

Update (3:09 ET) We removed text that said the email was sent to multiple Color employees, which we haven’t been able verify yet.

Update (4:15 ET) Added statement from Sequoia spokesperson, and specified the sender of the original email.